Neurocrine Biosciences (NBIX) Stock Rating Upgraded by BidaskClub
Neurocrine Biosciences (NASDAQ:NBIX) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.
A number of other equities analysts have also recently issued reports on NBIX. Oppenheimer restated a “buy” rating and issued a $70.00 price objective on shares of Neurocrine Biosciences in a research note on Thursday, September 7th. Needham & Company LLC reiterated a “buy” rating and set a $58.00 target price on shares of Neurocrine Biosciences in a research report on Sunday, September 17th. Robert W. Baird reiterated an “outperform” rating and set a $66.00 target price on shares of Neurocrine Biosciences in a research report on Thursday, September 21st. Jefferies Group reiterated a “buy” rating and set a $69.00 target price (up previously from $66.00) on shares of Neurocrine Biosciences in a research report on Tuesday, October 3rd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $84.00 price objective on shares of Neurocrine Biosciences in a research report on Thursday, October 5th. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $81.13.
Neurocrine Biosciences (NASDAQ NBIX) opened at $81.73 on Thursday. Neurocrine Biosciences has a one year low of $38.43 and a one year high of $83.57. The stock has a market cap of $7,230.00, a price-to-earnings ratio of -36.82 and a beta of 0.35. The company has a quick ratio of 14.37, a current ratio of 14.38 and a debt-to-equity ratio of 1.05.
Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.36. The business had revenue of $60.77 million during the quarter, compared to analyst estimates of $29.38 million. During the same quarter in the prior year, the company posted ($0.43) EPS. sell-side analysts forecast that Neurocrine Biosciences will post -1.66 earnings per share for the current year.
In related news, Director Gary A. Lyons sold 10,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $72.92, for a total transaction of $729,200.00. Following the transaction, the director now directly owns 272,066 shares in the company, valued at $19,839,052.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Kyle Gano sold 24,818 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $71.05, for a total transaction of $1,763,318.90. Following the transaction, the insider now owns 84,596 shares in the company, valued at $6,010,545.80. The disclosure for this sale can be found here. Insiders have sold a total of 116,405 shares of company stock worth $8,588,519 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP increased its holdings in Neurocrine Biosciences by 29.0% during the third quarter. First Trust Advisors LP now owns 782,685 shares of the company’s stock worth $47,963,000 after buying an additional 176,136 shares during the last quarter. Davidson Kempner Capital Management LP bought a new position in Neurocrine Biosciences during the second quarter worth $3,639,000. Janus Henderson Group PLC boosted its position in Neurocrine Biosciences by 2.6% during the third quarter. Janus Henderson Group PLC now owns 5,507,763 shares of the company’s stock worth $337,516,000 after purchasing an additional 140,639 shares during the period. Artisan Partners Limited Partnership bought a new position in Neurocrine Biosciences during the second quarter worth $15,981,000. Finally, State Street Corp boosted its position in Neurocrine Biosciences by 5.1% during the second quarter. State Street Corp now owns 2,710,196 shares of the company’s stock worth $124,666,000 after purchasing an additional 131,141 shares during the period.
Neurocrine Biosciences Company Profile
Neurocrine Biosciences, Inc is engaged in discovering and developing pharmaceuticals, in diseases with unmet medical needs, through its research and development (R&D) platform, focused on neurological and endocrine based diseases and disorders. Its three lead late-stage clinical programs are elagolix, which is a gonadotropin-releasing hormone (GnRH) antagonist for endometriosis and uterine fibroids; INGREZZA (valbenazine), which is a vesicular monoamine transporter 2 (VMAT2) inhibitor, for the treatment of movement disorders, and opicapone, which is a selective catechol-O-methyltransferase inhibitor that is an adjunct therapy to preparations of levodopa/Dihydroxyphenylalanine (DOPA) decarboxylase inhibitors for adult patients with Parkinson’s disease.
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